Solvay Targets €10 Billion-Plus Valuation for Syensqo Spinoff

Syensqo SA, the chemical maker being spun off from Solvay SA, is targeting an equity value of €10 billion ($10.8 billion) or more when trading starts Monday, according to people familiar with the matter, which would make it one of the largest spinoffs in Europe this year.

Euronext NV will publish a reference stock price for Syensqo late Friday, according to regulatory filings, with trading to begin Monday on Euronext’s markets in Brussels and Paris under the symbol SYENS. BNP Paribas SA and Morgan Stanley are advising on the split, which Solvay shareholders approved on Friday.

Solvay declined ...